Audible, which announced a $6 million investment yesterday, has increased its revenues in Q2 to $4.43 million, up from $2.74 million in the year-ago quarter. Audible’s consumer content revenue increased to $4.2 million, an increase of 73 percent from year-ago quarter. Net loss decreased to $913,010, from $4.71 million in the year-ago quarter.
CEO Don Katz in the conference call on Microsoft’s offloading of equity: “From now on, we will have a more neutral status on media technologies: while we are devolving our formal relationship with Microsoft, our technology relationship has been growing.”
Following the investment announcement yesterday, Apax Partners now owns 31 percent of the equity, Bertlesmann & Random House jointly own about 7.5 percent and Microsoft now owns about 2.5 percent of the company’s equity.
Related: Audible Gets $6 M Investment From Bertelsmann, Apax; Microsoft Offloads Some Equity